TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

Asia's Top Hotel Transaction

Category: Hotels, Posted:19 Apr 2011 | 13:05 pm

Singapore's 320 room Crowne Plaza Changi Airport hotel has transacted for USD243 million (USD760,000 per key).
Part of the deal includes the right to develop a 200 room budget hotel adjacent to the existing property.
In a deal brokered by Jones Lang LaSalle Hotels the transaction is the largest single hotel deal this year in Asia.
The buyer is Overseas Union Enterprise (OUE) who operate in the hospitality sector under its subsidiary Meritus.
Co-owners of the property are Singapore based L.C. Development (Lum Chang) who own part of the Holiday Inn Patong; and Runway 38 which is a subsidiary of a fund under LaSalle Investment Management.
LaSalle recently put up its Sofitel Silom Bangkok hotel for sale and is expected to transact shortly.
The firm is well known in Phuket for its high profile redevelopment of the Karon Villa into a Crowne Plaza and ultimately resold to Kingdom Hotel Investments in a landmark deal. Today it's operated as the Moevenpick Resort and Spa Karon Beach.

Other News

Read more

Global Experiential Hospitality Brand Selina Debuts In Southeast Asia

Category: Hotels, Posted:12 Aug 2022 | 18:12 pm One of the fastest-growing hospitality brands in the world Selina, has opened their first Southeast Asia property in Phuket, Thailand. The 52-key Selina Serenity Rawai Phuket is a conversion of what was previously an independently managed property, and prior to that had been operated by Outrigger Hotels and Resorts. Selina’s DNA is based on local […]
Read more

BDMS To Open Medical Wellness Facility At Laguna Phuket

Category: Real estate, Posted:12 Aug 2022 | 10:27 am The Greater Cherngtalay area in Phuket is set to see a new international-standard medical and wellness facility from leading Thai group BDMS (Bangkok Dusit Medical Services). Located in the middle of the integrated resort development of Laguna Phuket at Canal Village, the offering is targeted at both a growing local and expatriate population and overseas […]
Read more

Explorar Brand Spurs Expansion With Koh Samui and Koh Pha-ngan Acquisitions

Category: Hotels, Posted:19 Jun 2022 | 09:22 am Boutique hotel group Pavilion’s experience-focused spin-off Explorar Hotels and Resorts has expanded its growing footprint by acquiring a 125-key resort in Bophut, Koh Samui, and 75-key property in Koh Pha-ngan. Both resorts were previously owned and operated under ‘The Coast’ tagline. The two will be conversions and join an upcoming resort in El Nido, Palawan. […]
SiaJai logo

Thailand's Leading Homecare Marketplace